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Tata Consumers(+2%),M&M(-3%) and more

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Tata Consumers(+2%),M&M(-3%) and more

Tribe Daily

Tribe Wealth
Nov 17, 2022
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Share this post

Tata Consumers(+2%),M&M(-3%) and more

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Market Summary

Market closes at the day’s low following a sharp fall in the last hour.


Companies

Adani Enterprise (+2%) rose after SEBI approved the Adani Group's open offer to buy a majority stake in NDTV. Tata Motors (-3%) plunged after JLR CEO resigned. 


Sectors

Nifty Auto (-2%) plunged due to the bad performance of Eicher Motors, Maruti Suzuki, and M&M.


News of The Day

1.Timken India Limited (+20%) rose after the company announced the setting up of a new manufacturing facility in Bharuch( Gujarat). ( Economic Times)

2.Paytm (-10%) plunged after SoftBank sold a 4.5% stake in the company. (Economic Times)

3. Rail Vikas Nigam (-4%) plunged after traders booked profits. (Economic Times)

4.Fairfax India Holdings Ltd is considering an IPO for Bangalore International Airport.The company is planning to raise between Rs 30 Billion to Rs 40 Billion.(Economic Times)

5.  R Systems International Limited (+14%) rose after Blackstone acquired a majority stake in the company for Rs 2904 cr.(Economic Times)


Market Sentiment


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RBI ropes in banks for beta-testing the digipee for retail transactions.(Source: Economic Times)


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Tata Consumers(+2%),M&M(-3%) and more

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